Iberdrola and bp to Build 25 MW Green Hydrogen Project in Castellon
Key Ideas
- Iberdrola and bp have approved the construction of a 25 MW green hydrogen project at bp's refinery in Castellon, set to be operational by the second half of 2026.
- The project is a joint venture equally owned by both companies under Castellon Green Hydrogen S.L. and has received 15 million euros in funding from the Spanish Recovery, Transformation, and Resilience Plan.
- The initiative, involving Instituto Tecnologico de la Energia (ITE), marks the first hydrogen project collaboration between bp and Iberdrola, showcasing a significant step towards sustainable energy solutions.
- Funds for the project were allocated by the European Union's NextGenerationEU program, highlighting the importance of renewable hydrogen in the region's energy transition efforts.
Iberdrola and bp have officially given the go-ahead for the development of a 25 MW green hydrogen project at bp's refinery in Castellon, Spain. This joint initiative, executed through Castellon Green Hydrogen S.L., represents the inaugural hydrogen project partnership between the two energy giants. The collaboration, which was announced during an official event in July 2024 marking the final investment decision, aims to contribute to the advancement of sustainable energy practices. The project has secured funding of 15 million euros from the Spanish Recovery, Transformation, and Resilience Plan's Innovative Value Chain and Renewable Hydrogen Knowledge support programs. Additionally, the involvement of Instituto Tecnologico de la Energia (ITE) further underscores the commitment to technological innovation in the energy sector. With support from the European Union's NextGenerationEU funds, this endeavor signifies a significant milestone in the transition towards cleaner energy sources and showcases the potential of green hydrogen in the region's energy landscape.